Rapaport TradeWire March 23, 2023 

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RAPAPORT ® TRADEWIRE ®
March 23, 2023
 
Rapaport Market Comment - March 23, 2023

Diamond trading quiet amid US economic caution. US Federal Reserve raises interest rates 0.25 basis points, aiming to reduce inflation from 6% in February to 2%. Chinese buyers lack urgency after Hong Kong show signaled their reentry to the market. Smalls doing better than certs. Manufacturer profit margins tightening after price increases of small rough in 1Q. Polished production stable at low levels; inventory reduced in popular categories. G7 working on plan to oblige companies to declare their supply is not sourced from Russia ahead of May meeting. Martin Rapaport to address supply chain challenges and opportunities at Israel's International Diamond Week on Monday, March 27. Register here.

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RAPNET DIAMOND INDEX (RAPI™)
  Weekly Monthly Y2Y
0.30 ct 0.41% 1.85% -6.85%
0.50 ct -0.49% -0.89% -20.69%
1.00 ct -0.76% -1.44% -24.93%
3.00 ct -0.27% -0.95% -17.16%
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Market Reports
<p><strong>United States: </strong>Concern lab-grown gaining market share in bridal segment…</p>    United States: Concern lab-grown gaining market share in bridal segment…
<p><strong>Belgium: </strong>Rough auction prices continue to firm in small categories…</p>    Belgium: Rough auction prices continue to firm in small categories…
<p><strong>Israel: </strong>International Diamond Week (March 27 to 30) may lift sentiment…</p>    Israel: International Diamond Week (March 27 to 30) may lift sentiment…
<p><strong>India: </strong>Polished production still below capacity amid high rough prices…</p>    India: Polished production still below capacity amid high rough prices…
<p><strong>Hong Kong: </strong>Sales getting harder, as Chinese buyers have acquired enough inventory for now…</p>    Hong Kong: Sales getting harder, as Chinese buyers have acquired enough inventory for now…
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Podcast: Sanctions, Hong Kong and AI

The Rapaport editorial team highlights the major events, trends and quirky news stories that have shaped the diamond industry in the first quarter of 2023.

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TV and Social Media Help This Family Jeweler Boost Sales
By Joyce Kauf

Randy and Kristie Mitchum keep up a vigorous public presence to stay top of mind for their customers in Ozark, Missouri.

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Jewelers Thinking Outside the Box to Showcase Their Wares
By Isabella Yan

Brands are employing everything from augmented reality to non-fungible tokens.

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<p>G7 leaders want sanctions plan by mid-May summit, says US official.</p>
Diamond Importers Might Have to Declare Russian Origin
G7 leaders want sanctions plan by mid-May summit, says US official.
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<p>Collection belonging to Anne Eisenhower includes Van Cleef & Arpels ruby and diamond bracelet.</p>
Christie's to Sell Jewels of Former US President's Granddaughter
Collection belonging to Anne Eisenhower includes Van Cleef & Arpels ruby and diamond bracelet.
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<p>Alliance will help both organizations advance sustainability efforts.</p>
WJI 2030 Joins Forces with Global Fashion Agenda
Alliance will help both organizations advance sustainability efforts.
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<p>Burgundy decided not to renew option at yellow-diamond site after acquiring Ekati deposit.</p>
Ellendale Mine Returns to Gibb River Diamonds
Burgundy decided not to renew option at yellow-diamond site after acquiring Ekati deposit.
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<p>Rare jewel will go under hammer at Phillips Hong Kong in May.</p>
Necklace with 118ct. Sapphire Could Fetch $4.5M
Rare jewel will go under hammer at Phillips Hong Kong in May.
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<p>China orders revive after four months of declines.</p>
Swiss Watch Exports Spike on Asia Resurgence
China orders revive after four months of declines.
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<p>Gucci, Hodinkee and Greenwich St. Jewelers among honorees.</p>
Jewelers of America Unveils Gem Award Winners
Gucci, Hodinkee and Greenwich St. Jewelers among honorees.
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<p>Council will launch tools for retailers to help drive purchases.</p>
Educating Consumers Key to Natural Diamond Sales: NDC
Council will launch tools for retailers to help drive purchases.
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<p>Lorraine West, Rosy Blue and De Beers will all be honored.</p>
Diamonds Do Good Announces 2023 Award Recipients
Lorraine West, Rosy Blue and De Beers will all be honored.
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<p>January marked sector's fourth consecutive drop.</p>
US Polished Imports Decline at Start of Year
January marked sector's fourth consecutive drop.
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<p>Appointment follows gemstone security company's ">
Opsydia Hires Jimmy Gove from Bonas
Appointment follows gemstone security company's "significant" funding injection.
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